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Updated about 7 years ago on . Most recent reply

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Joseph Lynch III
  • Iowa City, IA
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6
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House Hack with a loan that doesn't require 15% down?

Joseph Lynch III
  • Iowa City, IA
Posted

I currently own a home in Philadelphia. I had to move suddenly for a job and have been renting out that property in Philly. I am now moving again and was thinking of house hacking in the new location. However, because the first property was financed through an FHA loan, I can't use FHA as an option for financing my next property and one lender told me that any other conventional loan with a low down payment (1-3%) would not work when purchasing a multi-family property. Does anyone have any suggestions about loan options that would get me out of the range of 15-20% down?

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